The Authorities has introduced a brand new cross-government motor insurance coverage activity power, supported by business consultants, to deal with what it claims is “the spiralling prices of automotive insurance coverage”.
Transport Secretary, Louise Haigh, and Financial Secretary to the Treasury, Tulip Siddiq, will deliver collectively business teams and client champions such because the Affiliation of British Insurers, Residents Recommendation, Which? and Examine the Market, in addition to insurance coverage regulators, as a part of the initiative.
In an announcement the Division for Transport stated: “It comes as motor insurance coverage premiums have grown by a median of 21% since June 2022, in response to Monetary Conduct Authority evaluation – far increased
Solely customers who’ve a paid subscription or are a part of a company subscription are capable of print or copy content material.
To entry these choices, together with all different subscription advantages, please contact info@insuranceage.co.uk.
Copyright Infopro Digital Restricted. All rights reserved.
You could share this content material utilizing our article instruments. As outlined in our phrases and circumstances, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised Consumer might solely make one copy of the supplies for their very own private use. You need to additionally adjust to the restrictions in clause 2.5.
If you want to buy further rights please e mail info@insuranceage.co.uk
